The Opportunity Cost of Attending College Is

question 148

Multiple Choice

The opportunity cost of attending college is

• A) the money one spends on college tuition,books,and so forth.
• B) the highest valued alternative one forfeits to attend college.
• C) the least valued alternative one forfeits to attend college.
• D) equal to the salary one will earn when one graduates from college.

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Definitions:

Range

In a general context, it refers to the extent or scope of something, such as variation between upper and lower limits on a particular scale.

Statistically Significant

A determination that a relationship between two or more variables is caused by something other than chance, based on statistical analysis.

Standard Deviations

A measure of the amount of variation or dispersion in a set of values, indicating how much the values differ from the mean of the set.

Central Tendency

A statistical measure that identifies a central or typical value for a set of data, commonly represented by the mean, median, or mode.